Gold Mining Industry in South Africa - A Leader in the World's Gold Production
The country of South Africa is the second highest producer of gold in the entire world. At one time, the gold mining industry in South Africa was the largest in the world, but China exceeded the country's production in the year 2007 and has held the title of largest gold producer since that time. Other countries with high gold production levels include Australia and the United States.
The successful gold mining industry in South Africa has had a significant impact on the development of Africa as an advanced an economically successful country. The nation's gold mining efforts began with the discovery of a diamond stone at the Orange River in 1867. Soon after, the Kimberly pipes were discovered and explored, and gold rushes began to Pilgrim's Rest and Barberton. The Witwatersrand gold rush took place in 1886. This historical event began the development of the gold field in the area and formed the well known city of Johannesburg. Known as the Witwatersrand basin, this popular area has generated more than 41,000 tons of gold and continues to be mined today. It is a massive area that encompasses more than 400km.
The gold mining industry in South Africa is successful due to the countries large gold reserves, which make up a substantial portion of the gold reserves in the entire world, with some estimates at over 50%. The US Geological survey believes that the country has over 6000 metric tons of this precious metal, but 95% of it is located underground. The future of this industry in South Africa depends on the level of gold that the mines can produce. However, the extraction of gold has recently declined because of rising costs. These higher costs are a direct result of the declining grades, an increase in the underground depth of the mines and a declining gold price.
Today, new projects are underway that will help to reshape the gold mining industry in South Africa and the country to remain at the top of the world's gold production. Top projects include Goldfield's South Deep mine in the Gauteng Province, an expansion of the Doornkop South Reef mine, the Lily mine, the Barbrook mine project. Many of these projects will use new technology and innovations, better employee organization and improved labor relations to ensure that they are successful and allow the mining industry to remain an integral part of the nation's economy.
The successful gold mining industry in South Africa has had a significant impact on the development of Africa as an advanced an economically successful country. The nation's gold mining efforts began with the discovery of a diamond stone at the Orange River in 1867. Soon after, the Kimberly pipes were discovered and explored, and gold rushes began to Pilgrim's Rest and Barberton. The Witwatersrand gold rush took place in 1886. This historical event began the development of the gold field in the area and formed the well known city of Johannesburg. Known as the Witwatersrand basin, this popular area has generated more than 41,000 tons of gold and continues to be mined today. It is a massive area that encompasses more than 400km.
The gold mining industry in South Africa is successful due to the countries large gold reserves, which make up a substantial portion of the gold reserves in the entire world, with some estimates at over 50%. The US Geological survey believes that the country has over 6000 metric tons of this precious metal, but 95% of it is located underground. The future of this industry in South Africa depends on the level of gold that the mines can produce. However, the extraction of gold has recently declined because of rising costs. These higher costs are a direct result of the declining grades, an increase in the underground depth of the mines and a declining gold price.
Today, new projects are underway that will help to reshape the gold mining industry in South Africa and the country to remain at the top of the world's gold production. Top projects include Goldfield's South Deep mine in the Gauteng Province, an expansion of the Doornkop South Reef mine, the Lily mine, the Barbrook mine project. Many of these projects will use new technology and innovations, better employee organization and improved labor relations to ensure that they are successful and allow the mining industry to remain an integral part of the nation's economy.
posted by Jewelry Blogger at
11:52 PM
